How do I get real estate leads?
You don't have a 'lead' problem.You probably just don't know your numbers well enough.Here's the thing:You can get leads in real estate (I'll give you 4+ ways at the bottom of this...). Some of those lead generation methods are free and others take $$$.But in real estate, you can NEVER have a lead generation problem. Why?Because if you know: 1) How many leads you need to hit your desired income 2) Your conversion metrics 3) Your lead sourcesYou can simply add another lead source to your business where the cost per lead is less than your profit per lead.Think about it:If you earn $110 per lead....all you have to do is find places where you can buy leads for less than $110.THATS EASY AS PIE!Here's a free calculator to figure out all of your numbers: Commission & Salary Calculator - Google SheetsNow For Some Lead Generation Methods:Attraction Marketing Through Blogging:Ryan runs a real estate blog over at raleighrealtyhomes .com. And within 6 months he got the website to generate around 10-12 leads per week for himself.Here's how he did that through consistent blogging, infographics, and social:Google Ads ZillowHave you ever tried Google Ads but found them too expensive?...I've been there. Here's a cool little trick to help you cut costs and get better leads:So... Zillow is going to hate me for this one.I literally just figured out the absolute EASIEST way you can swipe leads from Zillow for cheap.How much do you think an ad costs per click for: "Homes For Sale San Diego"Google keyword tool estimates about $2.94+ per click...That's pretty average (and kind of expensive!)Ok. . . How much do you think an ad costs per click for:"Zillow San Diego"HINT: Only $.40 cents per click! And do you know what's even better? 11x more people search forZILLOW!You can use keywords like this to drive clicks to your buyer and seller landing pages. This will help you amplify your lead gen greatly!!How To Get Free Leads From Twitter:You can actually find free real estate leads on Twitter just by setting up the right searches. People use Twitter to talk about all parts of the real estate transaction. So you can search Twitter for "Buying a house" "Selling Soon" "Thinking of moving" etc. And find people Tweeting about these things.Next, you can attract them too you by offering them free guides and resources located on your website.Leads From YouTube AdsThe next thing you can do is make a quick ad to run on YouTube. Did you know it only costs $.06 cents to get someone to watch a quick video on YouTube???You can use this to your advantage. Create a quick teaser video telling your local home owners that you need sellers because the market is flooded with buyers.Then run ads to that with Google Adwords. If you need the play-by-play on this. Click the link in the footer. I got $2.00 seller leads doing this in Kansas City.Facebook GroupsThis is another favorite tactic of mine...Find local Facebook groups. And make blog content on your site that marry's real estate with that groups topic.Did you find a local 'mom's only' facebook group?Write a blog post that helps those moms out when it comes to something about moving!!!Then post the link the group. You'll get tons of traffic. And they'll thank you.LinkedIn Profile HackingOne of the best things you can do on LinkedIn is view peoples profiles. Follow these 4 steps right now: (I’m going to give the example of Dan in Austin, who wants to target firefighters because ? of his clients happen to be firefighters also): 1.) Go to LinkedIN right now. 2.) Click this little “Advanced” tab. Not many people know about this: 3.) Type in Fire Fighter in “occupation”, and Enter your zip code in “Location”...like this: 4.) Now just click 20 of these profiles. YOU’RE DONE!! So what’s this gonna do for you? When you click on someone’s profile, they get an email saying you viewed their profile. 10-20% of these people will connect back with you. That’s ALL I want you to do today. Your real estate homework for the day:Follow steps 1-4 aboveClick 20 people
When signing a listing agreement for leasing with a commercial real estate broker, what are some common factors to negotiate?
I am answering this from the perspective of you own commercial property, that you're asking an agent to find a tenant for. REA's (Real Estate Agents) are professionals, and can be invited to quote for your business. Before approaching REA's, I have found it valuable to make a one-page doc with information about the property I want to let (address, lettable space, basic features), and my expectations (rent per annum, what outgoings the tenant is expected to pay, when it's available, what is and is not included) - these are the sort of things people looking for commercial space ask about first, and telling the agent will help them get an idea of what you have, and how lettable it is. Of course, you'll meet the agent and do an inspection together before you sign the deal, but it always helps to orient folks.Agent feesIn my experience, commercial agents will want a % of the first year rent, or a number of months of rent, as their fee. In a competitive market, either of these can be negotiated down (lower percentage, less months, or, not a whole month), but the danger of doing so is they'll put your property on the back-burner, and simply not work as hard to let it.It depends on how "hungry" the agent is for your business - if there's a lot of similar commercial property around, pushing them hard may have a negative effect (they can make more money elsewhere), but if the market is tight, they might take your property and work hard. Typically, this fee is paid when the property is let.ExclusivityI recommend not signing on an exclusive basis (the agent will probably want you to sign on an exclusive basis). This allows you to engage other commercial REA's (in case you do not like how the first agent works, or you do not think they are working hard enough), but also to source from your personal network (otherwise, you'd have to refer your pal to the REA and pay for the privilege!).AdvertisingAgents will probably include your listing in their portfolio at no charge (ie, put it on their site, print up basic brochures, have it in their shop window), but to expose it to a wider market (a good idea), they will charge for more advertising - a board out the front, listing on larger-traffic'd websites, ads in newspapers, and similar. This is worth paying for to a large degree: a wide net needs to be cast, as it's likely not many people will be interested in your property.Typically, this is paid up-front, and it's cost is not really negotiable - the agent will take a (hopefully modest!) cut of the advertising spend.Management feesCommercial agents will seek to also "manage" the property for you: after it is let, collect the rent, respond to tenant inquiries, do inspections, and so on, so you don't have to. Commercial REA's will charge a % of the monthly rental payments, between one and six percent is common, and this is generally negotiable.I let out residential properties I own, and always use the REA to manage this, but for commercial properties, I choose not to. Commercial tenants tend to be "quieter" (in that, they do not ask for things, break things, need assistance with things, as much as residential tenants do). So, I choose to manage the commercial tenants on my own, and save the cost. It takes me more time, but saves money in the long run.Consider sellingI have often been surprised, when I had a commercial property I wanted to let out, I often got offers for purchasing. Many businesses are in a position to buy instead of rent (that is, paying back a property loan, and paying rent have similar effects on the cash-flow, and property tends to appreciate in value). Sometimes, tenants read rental commercial listings as the seller being "shy" - they don't hesitate to make an offer to buy, and it apparently happens, this can result in being a sale. (I always stand firm on renting, owning commercial space is a long-term strategy for me, but I often get offers to purchase, from existing tenants as well).And finally...I strongly recommend getting a quotation from several REA's. This will give a good sense of the situation in your area, what the "going rates" are, and what could be negotiable. And, it gives REA's a chance to sell you on their ability to let your property. Someone you can communicate with effectively always makes life easier!Doing this, at least some of them will say they have parties interested in your property already. They probably do (that is, people looking for space of that size, in that location), becasue it's their job to have that. It's worth asking probing questions about what those people say they are looking for (IME, agents can take too many liberties with "want" lists), as a gateway for seeing how they work with prospective tenants.
How do real estate brokers get rental listings?
One of the ways large companies do it is through Data Science.To quickly grow from a niche online business into the leader of the hospitality industry, Airbnb invested heavily into the use of data science. It lets them create new offerings, and improve the usability of its services as well as capitalize on precise marketing efforts. And of curse there is a system to it that we appreciate and utilize in our own operations:the company pays close attention to voice data of customers, and utilize data science to interpret that voicedata scientists take a proactive approach and partner directly with engineers, PMs, and designers to get to know the insights and provide better quality analysisdata scientists look at and analyze everything of importance, like hosts’ acceptance and decline rate, decisions on the peculiarities of a particulars trip and potential guestsdata scientists strive to declutter the algorithm and create their own filters that provide straightforward analysis and are easy to comprehend